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SBP injects Rs12.25tr via OMOs after rate cut | The Express Tribune

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SBP injects Rs12.25tr via OMOs after rate cut | The Express Tribune


Gold dips in Pakistan as stronger dollar, US yields weigh; rupee posts marginal gain


KARACHI:

The State Bank of Pakistan (SBP) on Friday injected more than Rs12.25 trillion into the banking system through conventional and Shariah-compliant open market operations (OMOs) to manage short-term liquidity conditions.

According to the central bank, SBP conducted a conventional reverse repo OMO on December 19, 2025, accepting Rs12.35 trillion against total bids of Rs12.62 trillion for seven-day and 14-day tenors. The accepted rate of return for both tenors stood at 10.51% per annum, reflecting easing money market conditions following the recent policy rate cut.

Under the seven-day tenor, SBP accepted Rs1.27 trillion, while the bulk of liquidity — Rs11.08 trillion — was injected through the 14-day tenor, indicating banks’ preference for relatively longer-duration funding.

Separately, the central bank also carried out Shariah-compliant Mudarabah-based OMOs on the same day, injecting Rs81 billion into Islamic banks. SBP accepted the entire offered amount for both seven-day and 14-day tenors at rates of return of 10.57% and 10.56%, respectively.

Meanwhile, gold prices in Pakistan edged lower on Friday, tracking subdued movement in the international bullion market, where a firmer US dollar and rising Treasury yields dampened demand for the non-yielding metal. Despite the decline, prices remained on course for a weekly gain.

In the local market, the price of gold per tola fell by Rs900 to settle at Rs454,862, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold declined by Rs772 to Rs389,970. On Thursday, gold prices had surged, with the per tola rate increasing by Rs2,200 to Rs455,762.

Silver prices also registered a decline, shedding Rs52 to close at Rs6,848 per tola.

In the international market, spot gold rose marginally by 0.1% to $4,338.37 per ounce as of 1505 GMT, but was still set to post a weekly gain of around 0.9%. US gold futures were also up 0.1% at $4,370.10 per ounce, according to Reuters.

For next year, various research houses are forecasting gold prices in the range of $4,800 to $5,100.

Commenting on market dynamics, Adnan Agar, Director at Interactive Commodities, said differing price targets among analysts and brokers do not necessarily indicate contradictions but rather reflect varying financial models and assumptions. He noted that, similar to equities, commodities markets often see a wide range of forecasts, with investor sentiment ultimately guided by perceived upside or downside potential.

Agar added that despite expectations of relatively lower targets next year due to elevated current prices, gold remains at historically high levels. He pointed out that thin trading during the year-end holiday period could keep markets subdued but may also trigger unexpected upside movements. Given current trends, he said gold could potentially test new all-time highs in the coming weeks, possibly around late December or early January, as global markets enter a quieter phase.

Meanwhile, the Pakistani rupee posted a marginal gain against the US dollar in the inter-bank market on Friday, closing at 280.25 after appreciating by Re0.01. The local currency had ended the previous session at 280.26.



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Asda boss rejects profiteering claims as petrol price tops 150p

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Asda boss rejects profiteering claims as petrol price tops 150p



Motorists are facing higher fuel prices ahead of Easter break due to the conflict in the Middle East, the RAC says.



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Hetero rolls out generic semaglutide exports to over 75 countries – The Times of India

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Hetero rolls out generic semaglutide exports to over 75 countries – The Times of India


Hyderabad: Pharma player Hetero on Friday said it has rolled out exports of its generic semaglutide injection portfolio as part of a multi-year plan to widen access to treatments for type 2 diabetes and obesity in more than 75 countries.The Hyderabad-based pharmaceutical company said initial rollouts are under way in Africa, Asia and the Middle East, with additional launches planned in other markets subject to regulatory approvals.The injectable therapies will be sold under the brand names Truglyx, Rolmodl and Moto G. Semaglutide belongs to the GLP-1 class of medicines, which are used in diabetes care and weight management.Hetero said the export launch is part of its broader strategy to improve access to advanced cardio-metabolic therapies, particularly in emerging markets.The company said the products will be offered in multi-dose disposable pen devices designed in line with innovator formats and will be available in several strengths, including 0.25 mg, 0.5 mg, 1 mg, 2 mg, 1.7 mg and 2.4 mg, allowing dosing flexibility for both diabetes and obesity treatment.Hetero said it is also awaiting approval from India’s Central Drugs Standard Control Organisation (CDSCO) after completing clinical trials in type 2 diabetes and obesity and plans an India launch after regulatory clearance.Hetero managing director Dr Vamsi Krishna Bandi said the company aims to provide high-quality, affordable generic semaglutide through a single global product platform backed by its manufacturing and development capabilities.He said Hetero would use its commercial networks across Asia, the Middle East, Africa and Latin America to support supply and access. The Hyderabad-headquartered Hetero operates in more than 145 countries and employs over 30,000 people.



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India-US trade deal update: Piyush Goyal meets USTR Jamieson Greer, discusses next steps in BTA talks – The Times of India

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India-US trade deal update: Piyush Goyal meets USTR Jamieson Greer, discusses next steps in BTA talks – The Times of India


Commerce and industry minister Piyush Goyal on Friday met US Trade Representative Jamieson Greer and reviewed the next steps in negotiations for the proposed India-US bilateral trade agreement (BTA).The meeting took place on the sidelines of the 14th ministerial conference (MC14) of the World Trade Organisation in Yaounde, Cameroon, where both sides also exchanged views on issues related to the WTO agenda.“Had a very productive discussion with @USTradeRep Jamieson Greer on the sidelines of the WTO Ministerial Conference. Exchanged views on the #WTOMC14 agenda, next steps in the India-US BTA negotiations and explored ways to further deepen our economic cooperation and bilateral trade ties,” Goyal said in a social media post.The development comes amid ongoing efforts by both countries to finalise an interim trade pact. Last month, India and the US announced that they had finalised a framework for the first phase of the agreement, though it is yet to be signed.The two sides had earlier announced a trade deal on February 2, followed by a joint statement on February 7 outlining the contours of the agreement.As part of the framework, the US had agreed to reduce tariffs on Indian goods to 18%. However, the tariff structure has since undergone changes after the US Supreme Court struck down sweeping tariffs imposed under earlier measures.Following the ruling, US President Donald Trump introduced a 10% tariff on all countries for a period of 150 days starting February 24.In view of these developments, a planned meeting between chief negotiators of India and the US — aimed at finalising the legal text of the agreement — has been postponed. The pact was earlier expected to be signed this month.An official had earlier said that the interim trade agreement would be signed once the new global tariff framework of the US is fully in place.



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